Most start ups will fail, and the founders' equity will be worth nothing. They are putting all of their eggs in one basket and taking responsibility for investo

Most start ups will fail, and the founders' equity will be worth nothing. They are putting all of their eggs in one basket and taking responsibility for investors' money, employee salary and customer needs. Compare that to early employees at companies that have found product market fit and are early in the life cycle of rapid growth, their smaller equity grant will be worth more, especially after considering the significantly lower risk they are taking at a well funded company with product market fit. The point is, if you want to maximize for your own personal wealth, join a great company with traction as early as you can. If you are obsessed with creating something or solving a specific problem, or are a little be crazy, then start a company to pursue the vision. Just do so knowing the risk reward points to a lower wealth outcome compared the the alternative. And by the way, many founders take below market salary for a long time and may even go without salary or put money in when times are lean.